Risk Management and Business Continuity
Risk, health, safety, management, losses, reliability, probability, consequence, strategy, techniques, processes.
|Prerequisites for Module|
Aims of Module
This module reviews the theories, principles, practices, and challenges of risk management in the energy sector in order to identify best practice solutions to losses across the sector.
Learning Outcomes for Module
On completion of this module, students are expected to be able to:
||Demonstrate critical awareness of what is meant by risk management in the energy sector clarifying common processes, approaches and models employed to manage risk in this sector.|
||To critically investigate the increasing challenges of risk management in the energy sector by reviewing case studies of past losses.|
||Critical appraisal of recent improved risk management strategies (and techniques) and the extent to which such strategies have reduced catastrophic losses and costs.|
||To analyse the relationship between risk management and business continuity including reviewing their relative positioning. |
||Apply and evaluate strategies, techniques and business continuity plans to case study activities. |
Indicative Module Content
The module will require students to consider the complexity of managing risks in the energy industry and hence factors such as health, safety, regulation and compliance, public policy, reliability, financial concerns. It will also examine risk management processes, models and strategies for risk reduction/mitigation.
Students will be introduced to risk management techniques like HAZOP, ETA, FTA, FMEA, RCM, RCA and PHA and be asked consider the influence of such techniques on risk reduction and costs as well as the various health and safety, quality, environment and risk management systems.
The modules provides a holistic view of risk and how various traditional silo functions can be developed and managed in order to integrate with overall strategy and improved performance.
|The module will examine the relationship between risk management and business continuity including undertaking a comparison of their frameworks and reviewing the relative positioning of business continuity functions to risk management. |
Indicative Student Workload
|Full Time||Part Time||Distance Learning|
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|Self directed study of web based learning materials||0||0||50|
Mode of Delivery
The unit is presented by lectures and interactive group work with elements of reading around the topic.
The module is delivered by self directed learning from web learning and printed materials including books with on line support.
||Learning Outcomes Assessed|
The module is assessed by one piece of coursework in the form of an academic report.
|1.||LARKIN, J., 2003. Strategic reputation risk management. Palgrave Macmillan.|
|2.||REVIE, R.W., 2015. Oil and Gas Pipelines: Integrity and Safety Handbook. Hoboken. New Jersey: Wiley. Ebook. |
|3.||REUVID, J., 2012. Managing Business Risk: A practical guide to protecting your business. Kogan Page. Ebook. |
|4.||WARING, A and GLENDON, I. A., 2001 Managing Risk: Critical issues for survival and success into the 21st century. Thomson Learning.|
|5.||WATTERS, J., 2014. Disaster Recovery, Crisis Response and Business Continuity: A management desk reference. Apress. Ebook.|